S&P Closes, from Craig Mee
This is the fourth close within one point of the close five sessions ago, and those proceeding four sessions have all closed within three points of that close as well — maybe one for the record books. After a 3.5% gain, one may expect some consolidation – though is this taking it a bit far.
J.P. Highland adds:
The way the overnight session traded and the sustained action above 1380 made me think the S&P would have a good move and maybe test the early Feb highs… but the 9:30 open was a little disappointing and the following breakout attempt ran out of gas way too fast.
Nothing left but to keep hustling.